US EditionJapanese technology giant Panasonic announces a new chief as its profits barely hold up
TOKYO, JAPAN, JUL 30 – Kenneth William Sain takes over as CEO amid a 1.2% profit rise and plans to cut 4% of Panasonic’s workforce to offset tariff impacts and ending tax credits.
- Panasonic announced that Kenneth William Sain will replace Yasuyuki Higuchi as president and chief executive of Panasonic Connect in April 2026.
- This leadership change follows Panasonic's announcement in May to cut 10,000 jobs globally, about 4% of its workforce, to become leaner amid market challenges.
- Panasonic posted a 1.2% increase in profit for the first quarter, with net earnings of 71.46 billion yen for April through June, even as its sales fell 10.6% year-over-year, totaling approximately 1.9 trillion yen .
- The company reported robust sales of consumer electronics in Japan and solid demand in China, aided by subsidies, while noting that the effects of U.S. tariffs on electric vehicles have yet to be reflected in their financial results.
- Panasonic aims to reduce the impact of tariffs through workforce reductions and anticipates increased market interest in artificial intelligence computing equipment and cooling appliances, while preparing to launch its postponed lithium-ion battery plant in Kansas later this year.
14 Articles
14 Articles
Panasonic announces new chief as its profits barely hold up
Japanese electronics and technology company Panasonic has chosen a new chief executive at a group company after eking out a 1.2% rise in its first-quarter profit. Kenneth William Sain, a former Boeing executive, will replace Yasuyuki Higuchi as Panasonic Connect's president and chief executive in April 2026, the company said…
Panasonic Announces Leadership Shift Amid Steady Profits and Strategic Overhaul
Panasonic has announced Kenneth William Sain will become its CEO in April 2026, following a modest 1.2% profit rise in the first quarter. Despite challenges from US tariffs and a sales dip, Panasonic plans strategic cost-cutting. A new battery factory and AI server demand spotlight the company's future focus.
Associated Press News
Japanese technology giant Panasonic announces a new chief as its profits barely hold up
Japanese electronics and technology company Panasonic has chosen a new chief executive after eking out a 1.2% rise in its first quarter profit.
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